Sleep Monitoring Devices Market Insights and Forecast To 2028 Explored In Latest Research
The World Health Organization estimates the elderly population aged 60 years and above to reach 2 billion by the end of 2050. As insomnia, and other sleep-related disorders have been among the most leading age-prevalent health conditions, it is most likely that demand for effective monitoring of sleep hours, sleep breaks, and sleep pattern variations will grow exponentially in future. Sleep monitoring devices market is thus expected to witness a strong growth outlook in the next few years. Fairfield Market Research in its latest upcoming study would uncover how the global sleep monitoring devices market will shape up and where would the sales have the largest footprint. Increasing interest of researchers, and healthcare providers around the pathophysiology, and sleep physiology is likely to drive growth of sleep monitoring devices market, says the report.
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Growing Use of IoT in Sleep Analysis to Sleep Monitoring Devices Market
While the world of medicine and healthcare has been rapidly embracing the advent of technology over the past couple of decades, adoption of next-generation technologies like Internet of Things (IoT) has especially been disrupting for industry. Sleep monitoring devices, and other wearable devices are likely to remain significantly influenced with growing intervention of IoT/connected technology. The technology is increasingly being perceived as an aid in developing cost-effective models of sleep monitoring devices that also deliver consistent performance. Introduction of cutting-edge technology aids such as Commercial off the Shelf (COS) sensors that serve to revolve around IoT, and sleep monitoring devices is a breakthrough innovation that brings in predictive analysis in picture, thereby fuelling the growth potential of sleep monitoring devices market.
Western Markets Remain at the Forefront of Demand Generation
Currently, insomnia affects around 10% of the European population as reported by the European Insomnia Network (EIN). Furthermore, the American Sleep Association has also stated in 2020 that nearly 50-70 million of the US population suffers some type of sleep-related disorder. The developed western world will continue to be in the vanguard of purchasing sleep monitoring devices based on higher awareness about, and greater accessibility of innovative devices, as well as the superior purchasing power parity. The market will especially remain buoyant in North America on account of surging sales of smart wearable devices among an expanding health-conscious population that prefers frequent fitness tracking, and health monitoring. An increasing number of people are also opting for such wearables for efficient monitoring of parameters related to sleep disorders, which is expected to be an important factor pushing sleep monitoring devices market in North America.
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Sleep Monitoring Devices Market Competition
Some of the key market players stirring competition in global sleep monitoring devices market space, include Philips Respironics, ResMed, Invacare Corporation, Loona, Curative Medical, Oura, and BigHealth.
· In 2020, Dentsply Sirona collaborated with Panthera Dent al for the development of a fully digital workflow for customisable sleep monitoring devices
· Nyxoah SA recently entered a strategic partnership with the Vanderbilt University in 2021, over the development of new neurostimulation platforms for OSA treatments
· Oventus Medical launched a customisable therapeutic device - 02Vent Optima in 2021, as a CPAP therapy alternative
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